1. Basic IR Policy

The Tokyu Group aims to disclose accurate information in a fair, timely manner to shareholders and investors. When disclosing information, the Group complies with applicable laws and regulations and the rules of the stock exchange, etc. and also discloses information on the management strategy, financial information, and the results of the Tokyu Group in a timely, appropriate manner. In addition, to contribute to the sustainable growth and the improvement of medium- to long-term corporate value of the Tokyu Group, we pursue constructive dialogues with shareholders and investors.

2. Disclosure Policy

① Criteria for information disclosure

The Tokyu Group discloses information in accordance with applicable laws and regulations such as the Financial Instruments and Exchange Act and the Timely Disclosure Rules set by the Tokyo Stock Exchange. In addition, the Tokyu Group discloses information that it considers to be useful to better understand the Group, including the content of the presentation of the results briefing and information that does not fall within the scope of applicable laws and regulations as much as possible.

② Method of disclosure

Information disclosure that falls within the scope of the Timely Disclosure Rules set by the Tokyo Stock Exchange is conducted through registration on the Timely Disclosure Network (TDnet), Tokyo Stock Exchange’s disclosure system. In addition, disclosure documents, such as financial statements, are disclosed through Electronic Disclosure for Investors' Network (EDINET), the Financial Services Agency’s electronic disclosure system.
The Tokyu Group promptly releases the information disclosed through the Tokyo Stock Exchange’s TDnet on the Group website. We also disclose other information to investors in an appropriate manner with a fuller understanding of the purpose of timely disclosure.

③ Management of insider information

The Tokyu Group manages insider information in accordance with anti-insider trading rules. In dialogues with shareholders and investors, insider information is strictly managed.

④ Fair disclosure

The Tokyu Group manages information on important facts and definitive account settlement, which has not been disclosed by the Tokyu Group, as important information that significantly influences an investment decision, and discloses the information in an appropriate manner in a case where the disclosure of important information is required in accordance with laws and regulations when the information is disclosed to business contacts.

⑤ Quiet period

To prevent the leakage of information that influences share prices during the preparation period of the announcement of financial results and to secure the fairness of information disclosure, the Tokyu Group sets the period from the following day of each quarterly settlement to the announcement of each quarterly settlement as the IR activity quiet period. During this period, we withdraw replies, comments, etc. to account settlement inquiries. However, if a major revision of the earnings forecast is expected during this period, we disclose information on it in accordance with the Timely Disclosure Rules, in principle.

⑥Organizational chart

TLC Group Structure

3. Policy on Constructive Dialogue with Shareholders

①Directors in charge of dialogues

To promote constructive dialogues with shareholders and investors, a directors in charge of Finance, Corporate Communication, General Administration, and Human Resources are working together on this project.
In addition, when it is necessary and to a reasonable extent, the president and director in charge have dialogues with shareholders and investors to promote mutual understanding.

② Cooperation between division in charge and related sectors

The IR Office, in charge of IR activities, is set within Corporate Communication Department. Through cooperation with related divisions such as general affairs and management planning, it conducts smooth, constructive dialogues between the president, director in charge, and person in charge and shareholders and investors.

③ Efforts on enhancement of dialogue measures

We actively meet and talk individually with shareholders and investors, and also regularly hold a results briefing for institutional investors and analysts and a presentation meeting for individual investors, posting the materials for these meetings on our website.

④ Feedback measures

The opinions, concerns, etc. obtained from dialogues with shareholders and investors are regularly reported at meetings attended by the management. The management understands the points put forth by shareholders and investors, and uses them to enhance the company and to work on the improvement of the medium- to long-term corporate value of the Tokyu Group.

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